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the fiscal cliff and kick the can down the road, that's going to happen anyway. >> steve, no deal, bad deal? i kind of feel like i'm playing poker. what do you think? >> i can't believe it, but i agree with jim. the most deficit reduction is gog toome from no deal. and that's what we need. that's what this economy needs, the biggest threat to economic growth, if the deficit and the debt, 4 trillion, everybody talks about it as some sort of grand bargain. it's barely a start. this isn't a fiscal cliff, it's a fisca bunny hill, let's slide down it. >> if we slide down, jonas, in the first week, people are going to open up the paycheck and see less money there. i don't think that people understandhat at this point. >> people get used to tax cs, that's the problem. shoort-term expiring tax cuts, including the payroll tax cut. you know, it's not the best way to solve a problem, but th cliff is the result of not coming up with deals and they're not going to come up with battery deal, if it's negotiated it's nothe ideal way to solve it outfter deficit. we'd like t gradually raise taxes and cut spe
of steve jobs. we're going to take a very close look on what is next for america's favorite gadgetmaker. >>> speaking of gadgets, rivalry research in motion, offering training programs and promotions for its upcoming blackberry 10. it's targeted corporations. bold move or maybe a desperate one? >>> any move might be welcome down here. democrats want tax hikes on the rich. republicans want entitlement cuts. we've heard this before, haven't we? what do average americans want to see in a fiscal cliff solution. we've got the exclusive results of our exclusive cnbc all-america economic survey. >>> now to everybody's all-american, sue herera standing by at the nyse. >> you're sweet, ty. thanks. >>> we're a little bit on the downside. we really kind of retraced a little bit on the dow jones industrial average. previous to this we were solidly in the green in all three of the major market indices. the dow now down 14 1/2 points. nasdaq up eight. the s&p is down just a fraction. of course we are also watching apple on the back of yesterday's drop. the stock today is traded up $4.82. that's just
first. guest host david walker of comeback america initiative and democratic strategist steve mcmahon both here to help us find solutions. >> then, what goldman's jim o'neill is so he seeing to help you prepare for your investments straight ahead. plus, adding opportunities door to door. >> have a good day. >> thank you. >>> domino's pizza ceo patrick doyle is here. the second hour of "squawk box" begins right now. >> good morning, everybody. welcome back to "squawk box" here on cnbc. i'm becky quick along with joe kernen. andrew is out this week. we've been watching futures this morning and they are indicated slightly higher. dow futures are up about 35 points above fair value, s&p futures and the fass dak futures are higher, as well. in your morning headlines today, the fiscal cliff dominating the sunday talk show circuit. treasury secretary tim geithner expressing on meet the press that republicans will accept the president's plan to raise income taxes. >> what we're trying to do is make it more likely we come together on a good agreement for the american people that extends t
>> gretchen: we still have folks here thinking they can beat shaq. >> steve: delusional of. tomorrow on our program, laura ingraham, cheryl casone, and actress aisha tyler. big show. >> gretchen: see you tomorrow bill: guys. good morning. as we start this week we want to talk about a dangerous rescue in afghanistan come at a high price the life of a u.s. navy seal. here is the mission. to save an american doctor kidnapped by the taliban. as we go through the story it's a reminder about the sacrifice still being made overseas. good morning i'm bill hemmer. whole new week here at "america's newsroom". martha: i'm martha maccallum. this fallen hero was a member of navy "seal team 6" that carried out the mission to kill usama bin laden. according to officials in afghanistan they came under heavy fire with this mission. >> according to our information the kidnappers were taliban. they were heavily armed with heavy machine guns, with so-called rpg. rocket propelled grenades and ak-47s. bill: steve centanni follows up in washington. what can we report about this rescue machine? >>
statement to parliament today. will be out in westminster soon. steve is out to give us more detailed analysis of what to expect. let's just go back to the eurozone. as you say, thin advances here. are we capping -- it's up against the yen as well. there's obviously been a big yen story. >> yeah, i think the euro/yen has had perhaps more to do with eu euro/dollar than anything else. the euro crosses in general have been story rather than euro/dollar and euro/yen at the forefront. i think the euro/yen forecast is overplayed in what japan will ultimately deliver on. but mum is pretty good. i think you still play for a little yen weakness. i think we'll see a lot of people trying to buy yen back because i don't think we'll get delivery in all these preelection promises. >> do we all think we know what the chancellor is going to say? >> judging by the many pages being given to it in the newspapers, you feel like what else can he say? it's not going to be a day where you'll buy sterling aggressively because most of the news is going to be bad. we're going to have lower growth. potentially
forever. joining us now, steve liesman and an economist from ftm financial. steve, is it really as bad as all of that? we're talking about some very anemic numbers. >> the question is, what part is bad? i really disagree with this report in the sense that i don't see how he can possibly know what the growth rate is going to be in 2050. i don't think he knows what the growth rate is going to be next year let alone in 2050. the second thing wrong with this prediction is growth rates are something that are within control of a society or nation. with the policies -- now, i think he's right we're aiming right now for a growth rate that may be unattainable. long-term, a society cannot exactly choose but can adjust this level of growth. third, some of the things that he's most concerned about, for example, global competition, are some of the things that make me optimistic about the future, not pessimistic. >> but lindsay, part of his reasoning is we're adding too much debt to the equation. debt servicing takes up more of our growth at this point. too many band-aids solving problems that need
conversation with our steve liesman. in corporate news, the apple coming off its worst day ofs losses this almost four years. u.s. equity futures, though, not too bad so far today. indicated up about 15 points. today is thursday, december 6th, penultimate day before the day of infamy. "squawk box" begins right now. >> welcome to "squawk box." i'm becky quick along with joe kernen. andrew ross sorkin is on vacation this week. onset with us is drew mattis. welcome. thanks for getting up early. >> i'm always up at this time. >> we'll be going through secretary geithner's comments, but first let's get you up to speed on other stories. joe was talking about apple. it has been a rough ten weeks for the most valuable u.s. company. shares tumbling more than 6% yesterday shedding $35 billion of market value. among the reasons cited by analysts, a forecast by an influential research firm suggesting that the iphone and ipad maker is continuing to give up ground it rival the android gadgets. there were also unconfirmed reports that at least one major stock clearing house was raising margin
congress. hear remarks from republican congressman jim jordan and steve scalise on the future of the conservative movement. they'll be speaking 3:30 eastern right here on c-span. >> belittle me. strangle me. >> he's not safe on that bus. >> i've been on that bus. they are just as good as gold. >> as all of us i think in this country, we're starting to see people coming out and talking about their experience of this if he none none that so many of us -- phenomenon that so many of us experienced one way or another and had no words for other than adolescence, other than growing up. finally people will starting to stand back and say, hold on. this isn't actually a normal part of growing up. this isn't a normal rite of passage. i think there was a moment where there was a possibility for change. and director lee hersch and i started that film out of the feeling that voices were kind of bubbling up, coming up to the surface to say this isn't something that we can accept any more as a normal part of our culture. >> filmmaker cynthia lowen gathered essayed and personal stories today i
. >> steve galio was there. >> yeah. it was a pretty interesting day. but i think his comments moved some people, too. >> did we broadcast ray dalion? >> i don't know if we broadcast him live. we should grab some clips and play them on squawk. >> dino, did you have something? >> i think you're on track in terms of the economy. the economy is weak. >> should i be wishing things just bottomed on their own so that we could start policing -- >> i mean, you know, what will be great would be a surge in productivity. you know, a surge of demands externally. >> i can't get here any earlier. we're here at 3:30 in the morning. >> you know, can this economy be more productive? >> go to bed at 8:00. >> can that happen? can we get a surge of external demand? and those things are unlikely or can't be predicted. >> andrew got in earlier today than ever. >> i did. i was coming from the concert last night. no, i wasn't. let's check out the situation in crude today. 86. we're used to that now, too. it's like, okay, 86 is fine. the ten-year, and this, when we used to go and see greenspan down in washington,
'll do more work and come back. let's go to steve in new york please steve >> caller: greetings jim from the beautiful finger lakes of central new york. >> i love the finger lakes. what's going on? >> caller: two-part question for liberty brands. it looks like the revenue numbers are finally catching up with the same store sale numbers as evidenced this past month. the stock has been in a trading range 45 to 49 for several months. today it closed at 52.15. is this the breakout we've been waiting for? >> i'm going to say yes. no one had a good month in november except for amazon and euro play and limited. if you have have a good month of november when a lot of businesses were shut down because of sandy, who knows what could happen during the closer we get holiday season period like right now. limiteds for me for you. what the heck was up with office max? i thought it would be left for dead but it's coming back to life. the company has some things going for it. if you're looking to get in, you'll see some senator or congressman say -- >> coming up send cramer an e-mail to mad money.com. or
'm becky quick along with joe kernen and steve liesman. the november jobs report is now just about 150 minutes away. count do countdown is on. the economy probably added about 80,000 jobs last month. reuters consensus is a little higher at 93,000. the unemployment rate expected to hold steady at 7.9% and economists say the slow down in nonfarm payrolls will reflect the effect of sandy. joining us this hour is bank of america merrill lynch global research senior research economist michelle mire and we'll talk through everything that's been happening through jobs and what to expect. but first, there is a developing story. an earthquake off the northeast coast of japan triggered a tsunami warning. the warning has been lifted, but it was a 7.3 quake. so far no reports of any injuries or damage. it was for the same area devastated by an earthquake and tsunami back in march of last year. we will continue to bring you any developments. in the meantime, steve has some of the morning's top other stories. >> let's start with the markets. asian stocks rallying to 2012 highs overnight. the nikkei
. negotiation have been under way for about an hour. steve handelsman joins us. so far no deal? >> i'm checking. so far the meeting continues, which could be a bad sign, can it? sources here on the hill say in today's meeting president obama planned to be kind of tough, figuring that he has gotten the advantage back to the extent anybody has the advantage this close to the cliff and that he'll push hi original demand, the tack rates rise on income over a quarter million dollars. it's a positive sign, the first meeting since mid-november of the four congressional leaders, democrats and republicans at the white house. called by president obama, house speaker jane boehner, the key figure. >> the fact that he's come back and the four of them are at the table means to me we could come up with some kind of agreement. >> reporter: both sides want a deal to avoid tax hikes that could cost middle-class families $2400. if that rate lasts all of next year. the hangup is still tax hikes on the rich. rich of the rich to tax more, those making over $250,000, the obama proposal, or $400,000, a level senate re
automatic income tax hike on most americans looks close. >> as steve handelsman reports, only half of the deal is done. it could be scuttled all together by the half that's not done. >> surrounding himself with middle-class americans whose taxes would rise at midnight, president obama announced a possible deal. >> it appears that an agreement to prevent this new year's tax hike is within sight, but it's not done. >> reporter: sources say taxes would rise on income over four to five hundred,000, which the president sees as a big win for him. >> keep in mind just last month republicans in congress said they would never agree to raise tax rates on the wealthiest of americans. obviously the agreement currently being discussed would raise the rates and raise them permanently. >> in democrats are not applauding. they taye the president promised tax hikes bon 250,000. >> i think that's grossly unfair. >> reporter: senate republican lead egg mitch mcconnell made the tax deal with vice president joe biden. >> let's pass the tax relief portion now. >> reporter: a hang upis automatic defense
is just amazing. steve liesman's exclusive with lacquer. one more look at futures this morning. we'll cover what 10% on squawk earlier today. and a lot more when "squawk on the street" comes right back. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... who helped make slea difference last yearose for thousands of california foster kids. thank you for helping foster kids. thank you for the school supplies. thank you for the new shoes. thank you, secret santa. and thank you for donating money. your generosity proves that while not everyone can be a foster parent, anyone can help a foster child. - thank you. - thank you. gracia
? >> steve, your question -- >> i'm and freeload, by the way. >> that by the way is how the chinese would describe any relationship between japan and america. the interesting aspect of all these conflicts is that as india and china and india and china have a proximate geographically, but we've never been neighbors. >> right. >> in order to be neighbors you either have to love each other or hate each other. we have done neither. in fact, in 1962 during the first strategic conflict, between these two, you have to understand, it's hard to understand why we are not neighbors. [inaudible] in terms of inaccessible. but the positions, the lines, the strategies, the lines, what would they resonate to? the positions that are taken by postcolonial nations is that we will not be bound by decisions made by colonial powers. one, or in china's case, that we had to abandon our national positions. and now that we are strong, we need to resurrect them. right or wrong is not, that is very little to do with national positions. now, the words that were there in the title of today's discussion, confusion, i c
're going to hear tomorrow, in the next hour, when steve liesman will join us with results of our fed survey. >>> an oh beck minister, important events. opec ministers are in vienna. >> why vienna, by the way? >> i don't know why they originally set it there, but it seems like as good a place as any. have you been? >> i have not been. >> i don't think i've ever been to vienna. i always wondered about that. >> i mean, it's better than meeting in, i don't know, skokie, right? they're expected to retain its 28 million barrel a day output target. but the real drama is likely to be about leadership, the world's leading oil exporters are expected to argue about who should be opec's next secretary general and we have candidates from iran, iraq and saudi ara a arabia. they're all competing to replace the current leader, as you can see there. abdallah salem el badri, he's 72 years old and he's been there for years. i don't know where i've been for five years, but did you know -- >> i apologize in advance. i didn't. >> you could have said you did and we've been best friends, in fact. >> he's complete
:00 eastern, aman whose name is synonymous with the flat tax. steve forbes will be our taxmaker of the hour. it's a new day. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet, or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where a
? >> steve, thanks for that. that's interesting stuff there. >> nothing like getting your blood pressure up. liesman testing you live on tv. >> what do you think? wrong, wrong. brought back bad memories, huh, carl? 2013 housing market outlook this morning, according to the report there will be an increase in new residential construction activity, and also recovery in home repair and remodel spending next year. robert, some of the stats are staggering. it's not just an increase in starts, you're looking for 950,000 starts. that would be a 22% increase. what's the primary driver of this? is there really that much demand out there for 950,000 new starts? >> we're looking for three things. tighter inventory levels, stable pricing environment, and low interest rates. so collectively, we think these three factors would definitely drive demand verystantially next year. it's been a terrific year for the home builders. we think we're still in the third inning, not the seventh inning. both for fundamentals and the stocks. >> is there a part of the market we'll see the most building? is it the lower e
to own assault weapons. news4's steve handelsman took an eye-opening visit to a northern virginia gun store today. >> reporter: at a gun shop in chantilly, virginia, tim was shooting an assault-style rifle like the one used. tim opposes any new bans. >> basically you are punishing with the ban on the law-abiding citizens. the law still says i can own an assault weapon. >> new york mayor michael bloomberg is leading the push to change federal laws, to curb new sales of assault weapons and large-capacity clips. >> this is an outrage. we are killing each other, we're the only industrialized country in the world doing it. >> reporter: in connecticut sunday president obama vowed action, but nothing specific. >> in an effort aimed at preventing more tragedies like this. >> reporter: hundreds today went to the nra office in washington demanding more gun control, and a staunch nra backer joined the call. west virginia democratic senator joe manchin, as avid hunter, backed bloomberg. >> i don't know of anybody those hunting with an assault rifle. >> gun enthusiast angela brandon is thinking ab
deduction. that'll have a bigger impact on the cities and how we do business, i think. >> all right. steve, no dolphins -- i thought dolphins -- how many games did you lose? >> well, we've lost seven games. >> you won a few good games. >> at the end of the day, you're in the business to win. you don't like being under 5-7 isn't exactly -- >> have you talked to woody? >> woody is one guy who will make me feel better. >> new york is a lousy place if you're not winning. >> to stink. >> any place is a lousy place if you're not winning. >> exactly, in january i'd rather be losing in miami than in new york. >> that's because you don't own the team. >> thank you very much. >> thank you. pleasure being here. >>> when we come back. we have a lot still to come. steny hoyer on the fiscal cliff talks. then at 8:15 eastern, we have the adp numbers. mark zandi is here to talk through the market reaction. >>> 8:40 eastern, jeffrey solomon will be stopping by. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobo
it. make your mark with ink from ch [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. >>> you're watching cnbc squak on the street. opening bell set to ring in about 90 seconds. a lot of people saying what else would you expect ahead of the fed meeting, more bond buying, more opium. >> have been. 3m says, listen, business is fine. and dupont surprises you. excellent interview on maria, with coleman, the ceo. you break down these dow components, they've got a lot of things to say. lily has bad things to say, but they're not in the dow. united health. you have 30 stocks that seem uniquely, most of them, to have good things to say right now. >> one company that's not had good things
terrorists' ever-changing strategies from cyber warfare to handling weapons of mass destruction. steve harrigan live in brunswick, georgia, with more for us. steve? >> reporter: jon, watching these counterterrorism exercises can really get your heartbeating, and that's the goal, is to take these federal responders and put them in situations of real pressure. >> let's go. [gunfire] >> reporter: at the federal law enforcement training center in brunswick, georgia, they use blank ammunition -- >> police! >> reporter: -- but real actors. >> you can't simulate behavior. you have to use people to simulate behavior. >> reporter: 60,000 federal agents a year come to the 1600-acre site complete with mock airplanes, a test track. the important thing in performing a pit maneuver is location. no embankments, no bridges and no con congestion. terror attempts from the past are rehearsed alongside potential future attacks like improvised explosive devices. >> we want to prepare domestically for any type of threat, and we want to be able to defeat that threat should it occur here in the united states.
to happen. >> do you remember when steve brought seagate private. it was brimming with cash. raised the dividend next week. why doesn't michael dell pay out a special dividend and everyone is thrilled. >> fundamentals are still what? >> fundamentals are -- i mean, look. fundamentals depend upon a belief that the personal computer is going to be with us for a long time and is not that much in decline. ipad will not crush it. i don't know. >> why not redistrict some of that free cash flow and that cash into an area where you think you can attain real growth. try to recreate the company in some sort of significant way. >> i think that -- >> it's not easy to do that by the way. >> as rivals have discovered. >> maybe you want them to go into the pharmaceutical business. allerg allergen's weight loss business is for sale. not a lot of synergy there. you can't find growth in the personal computer business. it doesn't exist. >> maybe you could figure -- you'll carry it around on your ipad, maybe there's more synergy than you think. >> maybe he should take the cash and buy a lot of apple sto
. steve liesman reports that the white house is now proposing leaving lower tax rates in place for everyone except those earning $400,000 and above. yeah. i read that everywhere. liesman? liesman is agreeing with what is written everywhere? that's excellent, steve. good job. that's up from $250,000 and did you know? no one else cited him. they need to cite him. i don't like it when they don't. >> they should. >> the president has been demanding for months, it's a little above the $250,000. it's still below the $1 million that john boehner wants. we've been saying all along it probably goes up to 500. >> maybe you get up to 650 at this point. >> and then we have to decide, does it go back to 39.6? >> yeah. i had seen yesterday that there was some commentary -- is it 39.6 or 39-7? >> 29en 6 of. >> some commentary that john boehner has said okay on the 39 39.6. >> and the president said for two years. they would like to do it by christmas. i think that would be nice if they did it by christmas. you're watching "it's a wonderful life." and you realize that both sides rose above and
steve forbes talk about it? are they all wrong, john, just because they differ from what you believe? >> you're wrong. >> you're wrong four times plus one to infinity. >> no, no, joe, i'm sorry, joe -- >> your words are more inappropriate than mine. >> no. you're getting more full of it by the second. >> oh, please. >> why don't we do it this wie, john. based on the -- >> look, our spending problems -- hold on a second. hold on a second. >> when geithner said on our air we are fully ready to go, you must not have been listening. >> they are ready to go over the cliff. they're ready to go over the cliff. >> and get 250 above. >> the alternative is a set of policies that were rejected by the american people in the election and aren't consistent with the reality of our governsance. >> to get 50% to raise taxes on 2% so that they can get 2% that they're raising? this is not a definitive -- >> no. come on. >> does john boehner lose his leadership position? does eric cantor have to come in? >> what's that? >> does john boehner lose his leadership position after this? >> i wouldn't bet on t
the fiscal cliff. let's get to our senior economic reporter, steve leesman, with his predictions for the economy in 2013. >> reporter: >>> trying to figure out what's going to happen in 2013 depends on one very important development -- whether the u.s. goes over the fiscal cliff in a few days' time, and for how long. if it's avoided, there's considerable upside for the economy. we could see at least one and maybe two quarters of growth above 3%. the kind of growth that would put people back to work and lower the unemployment rate. why? because business has been holding back investment amid the uncertainty. unleashing business spending would add to the growth from the nascent rebound in housing and from the consumer who has hung in there despite tough times. in fact, we could see unemployment drop below 7%. although it might first rise, more work into the work force who have been discouraged but can't find work. then could it fall. as for the fed, i think the market may be overstating its expectations for assets purchased from the central bank in 2013. at the current pace, the new
. >> joining me now is steve and republican strategist and form are campaign manager for huckabee, jim saltsman. >> hello. >> pmr. demint has been trying o leverage his position as the tea party's uncompromising man in the gop and that his effort has failed or stalled. >> i don't think i agree with "the washington post" at all. i think he's had a great impact across the country and i think the move to the heritage makes a lot of sense to him personally. he always said he was going to be a two-term senator. had he a term less. he left early. he wasn't going to be a career politician. i think this makes a lot of sense for senator demint in a lot of ways and i think it's good for the conservative movement. >> he has supported candidates against more moderate republicans in primaries and then his candidate lost in the general election, including obviously richard mourdock in indiana, christine o'donnell, ken buck in colorado. what do you think is going to be the influence now for jim demint going into the heritage foundation? >> i think he's been a singular failure when you look at the candidates t
.s., but there could be some questions about china, remember that report from steve milanovich? he said apple needs to come up within some real innovations, you need to have some clarity on the pipeline, and you need geographic -- clearance to go into china? yes, it got it with two of the smaller carriers. china confirms talks with apple. but the problem here, he says tech is not an issue, it's mainly about the business model and benefit sharing issues. that could be a problem. >> he is also playing the part of what many analysts are doing, which is let me explain why it's going down, in the same way that the death cross, i always love the death cross, this is a technical term. i can think of a million reasons to sell it. the only reason i want to own it is because it makes the best products in the world and it's inexpensive. >> that's a lot of people looking at the chart. >> look again, the people who own apple, they were the ones who owned it because it was going up. it reminds me very much in 1999, what do i do with my nortel, it's at 110. in the meantime, roth, the ceo gives a session, an off t
. >> without the farm bill, it really makes it uncertain for ehat you should do next year. >> reporter: steve is a pharmacist here and a rice farmer. the people are nervous. >> very nervous. wh reporter: what are they saying when they're coming in? what are you hearing? >> "what do we do?" you know, they don't know what to do. ht's so uncertain right now that the banks don't know what to do. the farmers don't know what it do. they're out there plowing the land, getting it all prepared for next year, with total cecertainty. >> reporter: at stake, $154 billion in federal farm aid and isop insurance, sidelined by the fiscal cliff stalemate. benefits from the farm bill also guarantee rice farmer l.g. ronn that his costs are covered when crops are bad or demand drops. you'd be out of it if there was no subsidies? >> i will be looking for another job, absolutely. >> reporter: you just can't make enough money to make a go of it? >> those risks are too great. i could lose it all. if the market... if i plant rice and the market price is $12, and the next four months, it goes down to $6, i've lost a mi
of weakns in the participation rate and downward provisions to earlier reports. steve liesman joins us next with more on how economists are reacting to those numbers. >>> tomorrow, "squawk box" is kicking off a special day of fiscal cliff coverage. rise above: mission critical. becky quick and jim cramer, live in washington. 33 special guests, grover norquist, congressman jim hencer link, senators from both sides of the aisle, corker, warner, johnson, conrad reaching common ground on the debt deal. to the best vacation spot on earth. (all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana seafood is delicious. we're having such a great year on the gulf, we've decided to put aside our rivalry. now is the perfect time to visit anyone of our states. the beaches and waters couldn't be more beautiful. take a boat ride, go fishing or just lay in the sun. we've go
the huge commercial value potentially of the mapping service and i think steve jobs himself identified mapping as one of the keys to the future of computing. in this new new app i read 80 million business and as dresses, and will attempt too cross sell the local businesses. isn't there a point which you say this may not be core coo toll am, a hardware producer, yes, needs to create an ecosystem but not necessarily internet application ander is much internet applications, which are google's business? >> you answered your own question much. the importance of localization and connecting that to local commerce, that can't be understated. this is what people do. they have their phones, they use the maps to find things they want to do, they want to buy. how could apple step away from that? that is why they put yelp deeply inside of apple maps but they just -- get it right now, you know that apple has been updating their maps programs, they will continue to do so. the fight is absolutely not over. >> lance, good to talk to you, lance ulanoff, editor-in-chief of mashable as the new maps app be
this coming. steve had a caution note on apple a few weeks ago which stalled the stocks. not entirely a surprise. he is obviously a well respected analyst on the street. >> when you have a price target that is well above the stock, there's tremendous pressure for you to cut the price target. like there was tremendous pressure to raise the price target. i want to warn people, there are people who have much higher price targets. the analysts will probably join the fray. not sit in the bunker and say don't worry about it. i suspect you can use the china slowdown, china not great story, to gin up a few negatives next week. be aware that those who have a $900 price target are saying, i've got to find some way to cut that in half. >> he said his chinese sources do not expect the 5 to do as well as the 4s. itv, wearable computers, or another category, we have faith innovation is not dead. that's a relief, right? if he said innovation is dead, we'd have a problem. >> the $47 -- you know, what's incredible, here's a cash machine that has high earnings per share. when the stock goes into that v
. >> brian: it's like a convert ible! did you know this? >> steve: they'll be at the lincoln center. thanks for bringing it by here first. more in the after the show show. see you tomorrow, everybody. investigators searching for a motive after a murder-suicide that rocked the national football league. the kansas city chiefs reeling after police say linebacker jovan belcher killed his girlfriend then drove to arrowhead stadium and took his life in front of his coach and manager. martha: despite this tragedy. kansas city managed to play their scheduled game and as you would imagine it was a very emotional day for the players and the teams and the families and fans. after the game this is the scene. you can see the players alternating there. the teams gathering together as they huddled in prayer at mid field. >> we are grieving for all involved. it's tough when a circumstance happens, you can't undo them. so you have to rely on each other, rely on your family and friends and rely on your faith. that's what the team tried to do today and we were able to do that and work our way through the trag
krauthammer and steve forbes and the media like that story the least. >> i think there's a 6th story, jim. which is the media that quote progressive media of msnbc, tipping down to the white house to have an earnest chat to chat with the president about how important not going over the fiscal cliff is, and how important it is that they persuade their viewers to lean on those people who oppose them, so that they can actually avoid the cliff. that's amazing. >> you know, the media did not include the people who are not included, there was tom hartman, allen colmes and a lot of people who the white house left out of that meeting and in terms of who they put up and put out. media put out the story without doing their homework. >> there was a column by george will, bewitched by obama, even jonathan swift who said that promises and pie crusts are made to be broken and marvelled at the limited shelf life of a barack obama's promise of balanced debt reduction plan. is there any media pressure on the white house? >> there's no media pressure on the white house to explain any of this. in watching t
best friends are sean hannity. [ laughter ] >> stephanie: let's continue. steve doocy. >> listen we have got a gigantic win for america to tell you about. it happened yesterday in michigan. michigan became the 24th state to pass right to work legislation. what that means is you no longer have to join a union. you just don't have to -- you don't have to join it which is terrific, because there are a lot of people who don't want to. >> stephanie: karl? >> well you don't have to join. you get the same benefit that the union is fighting for, and you don't have to pay into it. >> stephanie: isn't that nifty. >> it's called the right to work for less state now until the voters overturn it shortly, or the 2014 elections happen whichever happen first. >> stephanie: you wait right there, governor walker and governor -- what is his name in michigan -- snyder. yeah you wait right there. karl frisch remains in the side car. seventeen minutes after the hour. kids -- at this point i have a whole archive of the times i made hannity, it is getting quite large. i would hate to lo
buy that declares its sincere steve. we're focusing on buying at the top. nothing more arrogant than when an insider backs up a truck for his own stock, sitting at a 52-week high. they are saying we know we rock, and we're so confident it will keep going higher, we'll buy stock hand over fist, not waiting for a pullback. buying what looks like to be the high. arrogant, sure, but bankable uverse, and there are notable exceptions occupying the wall of shame. let's assume they know what they are doing. not everyone deserves the benefit of the doubt in this business, and after the financial crisis at the end of 2008, i know a lot of people think ceo execs are fraud, crooks, liars, especially those of you who got burned on lehmann brothers. that's the wrong lesson to draw from the crash. healthy skepticism is one thing. a total unwillingness to believe anything positive is something entirely different. if you are going to own stocks, you need to be willing to extend some measure of trust to those who run the companies. getting their stock to a 52-week high and buying a bunch of shares is
behind the ad. steve, welcome to the show. >> thanks so much for having me. melissa: i understand that this is a parody and it is meant to start the discussion and that's why we're having you on tonight and i'm going to rise right to the bait and tell you as a mom of small kids and someone who follows industry closely i'm totally offended how disingenuous the words in your ad are. let's start with some of them. you say congress gives the fossil fuel industries, 10 dal billion your subsidies? no they're not. they're exxon hard-earned profit. not giving them to the government to feed the beast that keeps spending and spending our money. instead they're allowed to hang onto a small portion of their profits. >> that is actually not really accurate. there have been numbers of studies, most recently from the organisation for economic co-operation and development but also last year we saw a bill proposed in congress from senator sanders and representative elliso, all of which identify over $10 billion annually that are going to the fossil fuel industry in subsidies. melissa: but you say
of the point i make in the book the fairest system of them all would be a flat tax, something steve forbes talks about in the 1990s keeps rates low and broadens the base and makes everybody pay their fair share. >> let's go to the book, in fairness, one of the arguments you make is that the president wants to make everybody poor. is that fair? >> well, i don't know if he wants to make everyone poor but -- >> equally poor. >> let me put it like this. a good tax system tries to make poor people rich, it doesn't try to make rich people poor and sometimes i think the president gets that confused. a lot of this talk about raising tax rates. look, we know from history raising tax rates isn't going to raise much revenues. over the last hundred years, i document this in the book, every time we cut tax rates in the 'twen '20s and '60s and '80s we increase revenues. i'm pointing out this isn't an effective way to raise revenues if we are going to do that. >>> understand the concept. do you recognize there are some disparities out of whack at this point. >> what do you mean by disparities? >> economi
president. and richard, one of the questions i want to ask, i was talking to steve liesman about this yesterday, do you think that your board and your chairman is now effectively overcommunicating to the market to the point where we don't really -- we actually understand less rather than more about what's going on? >> well, the verbiage that we put out after every meeting has expanded significantly. the theory is that we want to signal to markets in a sufficient matter so that we don't surprise them. and very importantly, they can anticipate in a way with, again, greater certainty. the path we're likely to follow. the most important thing, of course, to communicate, will happen after we begin to tighten. we'll call that post-liftoff. >> but in the same way -- >> but you're right, andrew, from the standpoint that there's a lot of verbiage hire. and i don't know if it's actually -- we'll have to just watch this. i don't know if it's creating more confusion or not. i'm of the old volcker school. i would be communicating as little as possible. but there is a demand for greater transp
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